“Can a covered-bond-funded UK challenger bank change how Brits buy homes by importing Danish/US-style long-term fixed-rate mortgages?”
Founded 2018 by Arjan Verbeek as a covered-bond funded mortgage lender aiming to bring US/Danish-style long-term fixed-rate mortgages to the UK. Secured full PRA/FCA banking licence in 2023 after several years of mobilisation and launched flexible fixed-rate mortgages (5-15 years, up to 40 years) sold through brokers. In 2025 acquired Scroll Finance to move into specialist second-charge lending, and added deposit distribution via Raisin and Flagstone to fund the loan book from retail savers alongside its institutional covered-bond funding model.
Perenna discloses Perenna Bank PLC (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Perenna does not disclose a bank charter of its own; its banking services are provided through Perenna Bank PLC (in-house).
Perenna uses footprint for KYC and identity verification.
Perenna's lending and capital products are provided by Perenna Bank PLC (in-house).
The Embedded Finance Index 2026 maps 3 layers in Perenna's stack: Banking / BaaS (Perenna Bank PLC (in-house)); Lending (Perenna Bank PLC (in-house), Flexible fixed-rate mortgages (5-15 year fixed, up to 40 year term), Long-term fixed-rate mortgages, Lending into retirement and 4 others); KYC (footprint).
Perenna was founded by Arjan Verbeek and is founded in 2018, headquartered in London, United Kingdom.
Perenna's acquisitions include Scroll Finance (2025).
Get a read on where your own stack stands against Perenna and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.